Gold rose from near the lowest this year as investors weighed risk sentiment amid the long Easter holiday weekend in many countries, with a slew of major companies set to deliver results in the coming days.
Spot gold +0.2% to $1,277.46/oz at 8:16am in London. Metal dropped to $1,271.26 last week, lowest level since Dec.Bloomberg Dollar Spot Index steady.
“Some caution” has set in at the start of the week as investors await the releases, according to Jingyi Pan, market strategist at IG Asia. Still, there are several bearish factors hurting haven demand, including prospects for a U.S.-China trade deal, gains in equities and outflows from exchange-traded funds.
Source : Bloomberg